Royalty?

byChrisonOctober 26, 2007

No one should be surprised at the Alberta Goverment’s response to the Royalty review panel’s report. Middle of the road. More money for the province, minor effect on the oil companies, and not likely and real effect on the pace of the economy. I’ll take longer for the higher royalties to kick in, and the market is down a little bit, but not with the volume you’d expect to see if people were running in droves. Give them time to re-adjust. For now, I’m sure there are some people who will be making some pretty good money by going short on energy stocks. Give it time. Yeah, we’re not going to bounce back to 7 or 8% growth, which is a good thing. No, the oil companies aren’t going to take all their money and run away. We’ve still got more oil than Saudi Arabia. And conventional world oil production has peaked, adding to the long-term strength of oil sands development. This still doesn’t mean I like Honest Ed, but at least they didn’t screw it up. (Like the other parties would have)